Loading...
•
Jul 31, 2023
American Woodmark Q1 2024 Earnings Report
American Woodmark reported strong financial performance despite softening demand, with net sales and Adjusted EBITDA exceeding expectations due to improved operational performance.
Key Takeaways
American Woodmark Corporation announced its first quarter results for fiscal year 2024, reporting a decrease in net sales by 8.2% to $498.3 million but an increase in net income by 89% to $37.9 million. The company's Adjusted EBITDA also increased by 33% to $75.2 million. The company repurchased 328,295 shares for $22.1 million during the quarter.
Net sales decreased 8.2% year-over-year to $498.3 million.
Net income increased 89% year-over-year to $37.9 million.
GAAP EPS was $2.28, and Adjusted EPS was $2.78.
Adjusted EBITDA increased 33% year-over-year to $75.2 million.
American Woodmark
American Woodmark
Forward Guidance
For fiscal year 2024, the Company expects a low double digit net sales decline year-over-year and Adjusted EBITDA in the range of $225 million to $245 million.